DOCSLIB.ORG

Defense and Industry. Romania Can Not Be a Relevant Regional Player Without a Modern Army and a Strong Security Industry

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Defense and Industry. Romania Can Not Be a Relevant Regional Player Without a Modern Army and a Strong Security Industry Defense and industry. Romania can not be a relevant regional player without a modern army and a strong security industry Policy paper elaborated by the New Strategy Center - March 2016, Bucharest - In September 2015, the New Strategy Center launched a series of debates and meetings under the title ”Defense and Industry Strategic Forum”, aiming to create a platform for dialogue between institutions and the private sector, as well as to identify solutions in this field. From September 2015 to February 2016, the New Strategy Center organized eight debates and workshops. The main topics referred to the acquisition projects of fighting technique by the Romanian Army in the next decade, the need of restructuring and reorganization of the defense industry in order to become again a strategic industry, the possibility of strengthening technology partnerships between world large weapons companies and the national defense industry, the relaunching of national production of combat equipment following the strategic acquisition projects that Romanian Army will undertake, the resumption of weapons export and the inter-institutional cooperation for a viable export strategy, as well as the enhancement of the political and military strategic partnerships that Romania has due to the increasing technological and industrial cooperation in the defense field. We need a coherent public policy in the security field, as well as we need medium and long term strategies to be undertaken and carried through by all the political forces, regardless of the successive governments in power. Because Romania is above political sympathies, above the left or right orientation. 1 Premises ▪ In the new geostrategic context of the early 90s, marked by the end of the Cold War, the national defense industry has not been considered a priority any more. The companies belonging to the national defense industry have been trasferred from a centralized economy to a market economy without the necessary legislative and institutional foundations for such a complex process being established. ▪ The downfall of both the national and international orders has caused the loss of important financial resources necessary for the implementation of strategies and restructuring plans, resulting in unemployment, default on loans, impossibility of upgrading technology, gradual decline of research, development and engineering capabilities, disqualification for NATO standard products, and the impossibility of accessing loans or financial guarantees. ▪ There is still a major gap between the state companies and the Western companies, caused by aging technological and human resources. Also, the state industry is dependent on the export of traditional products and outdated technologies, as well as on the import of raw materials and subcomponents. Many of the traditional subcontractors have been disbanded, declared insolvent or bankrupt, or they are no longer performing in the security sector. ▪ The debts of state companies to local, social and state budgets have increased, exceeding in some cases the value of the company assets. They own land/buildings for which are paying taxes, but which have no connection with the production process any more. ▪ The implication of the political factor has hindered the profound change and often has altered the quality of management. ▪ The Public Private Partnership (state - private security industry) is fragile, the private sector often playing the role of subcontractor for foreign companies and providing assistance in the integration of new equipments on existing platforms. ▪ The defense and security field is over-regulated, with unconform and unorganized laws and stipulations, often confusing, contradictory, and impeding the activity. ▪ The unpredictability of government funding for coherent multi-annual acquisition programs affected both the state and private industry. The practice of fulfilling too ambitious or even unrealistic requirements comparing to resources resulted in supplying the army with expensive products more than once, while the products interoperability was questionable. ▪ The state non-involvement was visible also in the military research underfunding and a quasi- public-private cooperation in this field. An inter-institutional strategy to determine a coherent research and security technologies development process is lacking. Not any major national project has been developed during the last 25 years in order to properly equip the army and to relaunch the export of based on advanced technology Romanian products. 2 History ▪ In 1989, the national defense industry has almost 100 companies with about 130,000 employees, and the Romanian arms export turnover reached $800 million. After successive reorganizations, 22 state-owned enterprises work today, 15 being grouped within CN ROMARM SA, a company under the Ministry of Economy. The security industry is also represented by 17 private companies. The part that belongs to the state still needs an objective assessment and restructuring, which is quite difficult due to the local political interests or, sometimes, the trade union pressure. There are companies that hardly survive in the absence of orders, but there are also companies with important export contracts, with similar activities. These companies might merge, but often the temptation to keep the boards of directors is too big, most of the members being appointed on subjective criteria, as a reward for political services, without having the professional training in order to be able to take useful decisions for the companies they lead. Moreover, the unions have a strong influence, even though there are far fewer employees (about 5,900). The workforce is aging, the average being 53 years, while the constant lack of orders from the state accelerated the departure of many competent employees to the private sector or abroad. ▪ All the companies lack the adequate technology, and the ammunition and weapons are manufactured using equipments and technology from the 60s - 70s, in the best case from the 80s, which negatively reflects on the products competitiveness for export (in other cases, as SC Pirochim Victoria, the equipments are from 1936, and in UM Sadu the cartridges are packed manually). The state investments in technology for the defense industry were very poor. Also, the state lost control over the production of strategic elements like powder, Romania depending on imports from Serbia. A modest investment started in 2015 with €400,000 for the resumption of powder production in Făgăraş, hindered by bureaucracy. Its duration can not be predicted given that the total amount is estimated at around €60 million. ▪ Romania has a weak internal market for the armament industry, a deficiency aggravated by the lack of predictability of the Defense Ministry funding programs. The economic crisis has forced the Defense Ministry to reconsider the procurement plans and the acquisitions were sporadic, based on the Minister of Defence power of persuasion and his relation with the Prime Minister and the Minister of Finance rather than on a real procurement plan. This had some major negative effects. Firstly, the army did not follow, most of the times, a multi-year planning process, which impaired the logistics and the interoperability of systems (equipping the battalions with different communications systems, deficient in terms of interoperability and maintenance costs, and equipping the motorized infantry brigades with various combat systems, as MLI and Piranha fighting vehicles). Secondly, these deficiencies were overlapped by the temptation to include unjustified requirements for the products, becoming impossible or too expensive to integrate the old equipments with the new products, which also had to last longer and meet the future challenges. In some cases, this approach has led to purchasing overpriced products, with major problems in the theaters of operation. This was the case for Piranha transporter: a different kind of turrets were requested and, in the end, the final product was more expensive because Romania has actually paid the research and development costs to the producing company. 3 ▪ Another vicious approach is the practice of (re)allocating the funds between ministries at the end of the year, which causes a conjectural and disarticulated reaction and generates much higher future costs. In December 2015, the ground forces bought 60 Iveco trucks in order to reduce the huge shortage they were facing. The acquisition was not part of a truck procurement strategy for the whole army (the number being very small compared to the total needs estimated at 10,000 trucks) but it was determined only by an immediate opportunity created by some year-end funds that had not been originally scheduled. Given such a sizeable demand, a coherent multi-annual program would be 100% justified and could also provide a chance to the domestic industry. Instead, a cyclical approach and the absence of centralized procurement strategies give no guarantee that the next products will not be manufactured by another producer, a situation which will have a negative impact on the maintenance costs and interoperability. ▪ Not least, the sporadic financing, the unpredictability of procurement costs, the decreasing amounts allocated for exercises and trainings, that characterized the period of massive budget cuts, have affected the maintenance process in terms of rhythm and consistency. The security industry, especially the private industry, has lost orders for the maintenance
Load more

Recommended publications
  • Romanian Military Attachés in London and Their Diplomatic Value (1919-1939)
    Romanian Military Attachés in London and their Diplomatic Value (1919-1939) Marusia Cîrstea* ARTICLE INFO ABSTRACT Available Online June 2014 The article emphasizes the fact that the military represented an important Key words: component of the connections between Romania and England in the Romania; interwar period. Military attachés played an important role in maintaining Great Britain; military connections between the two countries: Nicolae Arion, Matila Military attachés; Military objectives; The Romanian General Gheorghiu.Costiescu Ghika,In their Radu diplomatic R. Rosetti, activity Ion theyAntonescu, supported Nicolae the following:Rădescu, Staff. RomaConstantinnia being Sănătescu, recognized Gheorghe in England Niculescu, in actual Gheorghe fact; providing Dumitrescu, good reports Ermil for English businessmen; developing Great Britain’s economic interests in Romania; acquainting Romania with the organization and fighting technique of the British army; closer cooperation between the two armies (British and Romanian); building common military objectives (such as the Ta șaul military port), and others. 1. Introduction The military represented an important component of the connections between London and Bucharest in the interwar period, Romania being interested in developing its military potential with a view to defending its national borders. Examining the political and military circumstances in the area, the Romanian army’s General Staff reached the following conclusion: “Reunited Romania is in a much more difficult situation than in the past, as all its frontiers are threatened by the surrounding states. This threat comes from either a desire for retaliation on the part of Hungary or Bulgaria, who cannot accept being dispossessed of certain territories they owned, or from the propaganda tendencies of the Bolshevik regime, eager to expand its influence as far west as possible”.
    [Show full text]
  • Following the Thread: Arms and Ammunition Tracing in Sudan and South Sudan
    32 Following the Thread: Arms and Ammunition Tracing in Sudan and South Sudan By Jonah Leff and Emile LeBrun Copyright Published in Switzerland by the Small Arms Survey © Small Arms Survey, Graduate Institute of International and Development Studies, Geneva 2014 First published in May 2014 All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, without prior permission in writing of the Small Arms Survey, or as expressly permitted by law, or under terms agreed with the appropriate reprographics rights organi- zation. Enquiries concerning reproduction outside the scope of the above should be sent to the Publications Manager, Small Arms Survey, at the address below. Small Arms Survey Graduate Institute of International and Development Studies 47 Avenue Blanc, 1202 Geneva, Switzerland Series editor: Emile LeBrun Copy-edited by Tania Inowlocki Proofread by Donald Strachan ([email protected]) Cartography by Jillian Luff (www.mapgrafix.com) Typeset in Optima and Palatino by Rick Jones ([email protected]) Printed by nbmedia in Geneva, Switzerland ISBN 978-2-9700897-1-1 2 Small Arms Survey HSBA Working Paper 32 Contents List of boxes, figures, maps, and tables .......................................................................................................................... 5 List of abbreviations ....................................................................................................................................................................................
    [Show full text]
  • Worldwide Equipment Guide
    WORLDWIDE EQUIPMENT GUIDE TRADOC DCSINT Threat Support Directorate DISTRIBUTION RESTRICTION: Approved for public release; distribution unlimited. Worldwide Equipment Guide Sep 2001 TABLE OF CONTENTS Page Page Memorandum, 24 Sep 2001 ...................................... *i V-150................................................................. 2-12 Introduction ............................................................ *vii VTT-323 ......................................................... 2-12.1 Table: Units of Measure........................................... ix WZ 551........................................................... 2-12.2 Errata Notes................................................................ x YW 531A/531C/Type 63 Vehicle Series........... 2-13 Supplement Page Changes.................................... *xiii YW 531H/Type 85 Vehicle Series ................... 2-14 1. INFANTRY WEAPONS ................................... 1-1 Infantry Fighting Vehicles AMX-10P IFV................................................... 2-15 Small Arms BMD-1 Airborne Fighting Vehicle.................... 2-17 AK-74 5.45-mm Assault Rifle ............................. 1-3 BMD-3 Airborne Fighting Vehicle.................... 2-19 RPK-74 5.45-mm Light Machinegun................... 1-4 BMP-1 IFV..................................................... 2-20.1 AK-47 7.62-mm Assault Rifle .......................... 1-4.1 BMP-1P IFV...................................................... 2-21 Sniper Rifles.....................................................
    [Show full text]
  • Surveying Europe's Production and Procurement of Small Arms
    10 Surveying Europe’s Production and Procurement of Small Arms and Light Weapons Ammunition The Cases of Italy, France, and the Russian Federation Edited by Benjamin King A Working Paper of the Small Arms Survey Copyright About the Small Arms Survey Published in Switzerland by the Small Arms Survey The Small Arms Survey is an independent research project located at the © Small Arms Survey, Graduate Institute of International and Development Graduate Institute of International and Development Studies in Geneva, Studies, Geneva 2010 Switzerland. Established in 1999, the project is supported by the Swiss Federal Department of Foreign Affairs, and by sustained contributions from the Gov- Published in July 2010 ernments of Canada, Finland, Germany, the Netherlands, Norway, Sweden, All rights of reproduction and translation, even in part, are reserved for all and the United Kingdom. The Survey is also grateful for past and current countries. No part of this publication may be reproduced, stored, or transmit- project support received from the Governments of Australia, Belgium, Den- ted, in any form or by any means, without the prior written permission of the mark, France, New Zealand, Spain, and the United States, as well as from dif- Small Arms Survey, or as expressly permitted by law, or by virtue of agree- ferent United Nations agencies, programmes, and institutes. The objectives of the Small Arms Survey are: to be the principal source of ments on rights of reproduction. All enquiries concerning reproduction out- public information on all
    [Show full text]
  • The German Military Mission to Romania, 1940-1941 by Richard L. Dinardo
    The German Military Mission to Romania, 1940–1941 By RICHARD L. Di NARDO hen one thinks of security assistance and the train- ing of foreign troops, W Adolf Hitler’s Germany is not a country that typically comes to mind. Yet there were two instances in World War II when Germany did indeed deploy troops to other countries that were in noncombat cir- cumstances. The countries in question were Finland and Romania, and the German mili- tary mission to Romania is the subject of this article. The activities of the German mission to Romania are discussed and analyzed, and some conclusions and hopefully a few take- aways are offered that could be relevant for military professionals today. Creation of the Mission The matter of how the German military mission to Romania came into being can be covered relatively quickly. In late June 1940, the Soviet Union demanded from Romania the cession of both Bessarabia and Northern Bukovina. The only advice Germany could give to the Romanian government was to agree to surrender the territory.1 Fearful of further Soviet encroachments, the Roma- nian government made a series of pleas to Germany including a personal appeal from Wikimedia Commons King Carol II to Hitler for German military assistance in the summer of 1940. Hitler, Finnish Volunteer Battalion of German Waffen-SS return home from front in 1943 however, was not yet willing to undertake such a step. Thus, all Romanian requests were rebuffed with Hitler telling Carol that Romania brought its own problems upon itself by its prior pro-Allied policy.
    [Show full text]
  • New Evidence for Romania Regarding Dynamic Causality Between Military Expenditure and Sustainable Economic Growth
    sustainability Article New Evidence for Romania Regarding Dynamic Causality between Military Expenditure and Sustainable Economic Growth 1 2 3, 4 Ran Tao , Oana Ramona Glont, , Zheng-Zheng Li *, Oana Ramona Lobont, and Adina Alexandra Guzun 2 1 Qingdao Municipal Center for Disease Control and Prevention, Qingdao 266000, China; [email protected] 2 Doctoral School of Economics and Business Administration, West University of Timisoara, Timis, oara 300223, Romania; [email protected] (O.R.G.); [email protected] (A.A.G.) 3 Department of Finance, Ocean University of China, 238 Songling Rd, Qingdao 266100, China 4 Finance Department, Faculty of Economics and Business Administration, West University of Timisoara, Timisoara 300223, Romania; [email protected] * Correspondence: [email protected] Received: 20 May 2020; Accepted: 19 June 2020; Published: 21 June 2020 Abstract: Military spending and sustainable economic development have been widely discussed in recent decades. Especially in Romania, the defense budget is valued at $4.8 billion, registering a compound annual growth rate (CAGR) of 23.57%. It is also expected to reach $7.6 billion in 2023, according to a report by Strategic Defense Intelligence. There is no consensus in current research and less attention is paid to Eastern European countries. Considering the significant increase in military spending in Romania in recent years, as well as the occurrence of political events, this paper focuses on the dynamic causal relationship between military spending and sustainable economic growth in Romania. The bootstrap rolling window causality test takes into account the structural changes, and therefore, provides more convincing results. The results indicate negative effects of military expenditure on sustainable economic growth between 1996–1999 and 2002–2004.
    [Show full text]
  • Vietnam : a Case of Military Obsolescence in Developing Countries
    This document is downloaded from DR‑NTU (https://dr.ntu.edu.sg) Nanyang Technological University, Singapore. Vietnam : a case of military obsolescence in developing countries Wu, Shang‑su 2018 Wu, S.‑s. (2018). Vietnam : a case of military obsolescence in developing countries. The Pacific Review, 32(1), 113‑130. doi:10.1080/09512748.2018.1428676 https://hdl.handle.net/10356/103295 https://doi.org/10.1080/09512748.2018.1428676 This is an Accepted Manuscript of an article published by Taylor & Francis in The Pacific Review on 27 Feb 2018, available online: http://www.tandfonline.com/10.1080/09512748.2018.1428676 Downloaded on 28 Sep 2021 07:07:34 SGT Page 1 of 24 The Pacific Review 1 2 3 Table 1 the Comparison of Chinese and Vietnamese MBTs 4 5 Nationality Types Firepower: Mobility: Power-to-Weight Rate Armour 6 Main Gun 7 Vietnam T-62 115mm 14.5hp/ton Steel 8 9 T-55AM3 105mm 25hp/ton (Estimated) Reactive 10 T-55/54 100mm 14.44hp/ton Steel 11 Type-59 100mm 14.44hp/ton Steel 12 China Type 99 125mm 27.77hp/ton Reactive with 13 Type 98 125mm 25hp/ton add-on module 14 Type 96 125mm 24hp/ton 15 16 For Peer Review Only 17 18 Table 2 the Comparison of Chinese and Vietnamese Artillery Systems 19 20 Nationality Type Classification Calibre Maximal Range 21 Vietnam M-107 Self-propelled Gun 175mm 32km 22 23 2S3 152mm 18.5km 24 2S1 122mm 15.3km 25 M-101 Towed howitzer 105mm 11.2km 26 27 M-102 11.5km 28 Type-60 122mm 24km 29 M-30 11.8km 30 31 D-30 15.29km 32 M-46 130mm 27km 33 D-20 152mm 17.4km 34 35 M-114 155mm 14.6km 36 Type-63 Towed MRL 107mm 8.5km
    [Show full text]
  • The BTR Handbook- the Universal APC
    SEP 2013 The BTR Handbook- The Universal APC TRADOC G-2 Intelligence Support Activity (TRISA) Complex Operational Environment and Threat Integration Directorate (CTID) [Type the author name] United States Army 6/1/2012 OEA Team Handbook Purpose To inform the Army training community of the large number of Soviet styled BTR (Bronetransporter) Armored Personnel Carriers (APC) found in over 70 countries. To describe the improvements made in the BTRs from the post-World War II period to the latest versions. To provide a distribution summary for each major BTR type by country. To discuss the capabilities of each group of BTRs. To enumerate each BTR version with a short description of the vehicle’s purpose. To present photographs of many of the BTR variants. Executive Summary Demonstrates the spread of the BTR to over 70 countries around the world, including much of Africa, Eastern Europe, South Asia, and the Middle East. Makes obvious that both American allies and potential foes use the BTR as a standard APC for their infantry or a support vehicle. Provides a historical perspective of the BTR and each subsequent APC generation. Lists each generation of BTR and its variants. Includes photographs of many BTR versions. Cover photos: Top photo: BTR-40 at the Batey ha-Osef museum in Tel Aviv, Israel; Wikimedia Commons; 2005. Bottom photo: BTR-80A, Wikimedia Commons, 13 September 2008. 2 UNCLASSIFIED OEA Team Handbook Map Figure 1. Countries with BTR Variants. The red stars indicate the countries where BTR variants can be found. Introduction Even though the first Soviet Bronetransporter (BTR) made its first appearance not long after the end of World War II, the BTR is still a major armored personnel carrier (APC) and weapons platform in over 70 countries around the world.
    [Show full text]
  • Polish - Romanian Military Cooperation
    International Conference KNOWLEDGE-BASED ORGANIZATION Vol. XXIV No 1 2018 POLISH - ROMANIAN MILITARY COOPERATION Tomasz BĄK Instytut Analizy Ryzyka Wyższa Szkoła Informatyki i Zarządzania w Rzeszowie [email protected] Abstract: Reborn after WWI, Poland needed to secure its borders properly against a potential enemy. As a result of the undertaken negotiations, the state strengthened the protection of its eastern border with a Polish-Romanian alliance. Before WWII, Romania was an important ally of Poland in the region and the only neighbour with whom Poland had a good relationship. Currently, both states are members of the EU and NATO, and their interests in security converge, especially in the face of deteriorating security in Eastern Europe. Closer military cooperation is also favoured by extensive political contacts and increasing expenditure on defence in both those states. In fact, Romania may well become the main ally of our country in the region within the next few years. [1] Keywords: cooperation, military cooperation, Polish-Romanian alliance. Introduction In autumn of that same year, the Romanian 1. Military cooperation of Poland and minister of foreign affairs contacted the Romania before WWII Polish government with a direct proposal of After the First World War ended, Polish cooperation within the Little Entente. Yet diplomacy faced the difficult challenge of the mission met with a full fiasco, as it ensuring strong borders of the reborn state. would mean the need for Poland’s Another objective was to define the place of cooperation also with the Czechoslovakian Poland in Central and Eastern Europe anew. diplomacy. At that time, Polish diplomacy The planned system was supposed to be were not fond of Czechoslovakia due to e.g.
    [Show full text]
  • A/71/138 General Assembly
    United Nations A/71/138 General Assembly Distr.: General 14 July 2016 English Original: English/French/Russian/ Spanish Seventy-first session Item 97 (g) of the preliminary list* General and complete disarmament: transparency in armaments United Nations Register of Conventional Arms Report of the Secretary-General Summary The present report, which is submitted pursuant to General Assembly resolution 68/43, contains information received from Member States on the export and import of conventional arms covered by the United Nations Register of Conventional Arms, including “nil reports”, as well as additional background information on military holdings, procurement through national production and international transfers of small arms and light weapons for the calendar year 2015. As at the date of submission of the present report, the Secretary-General had received reports from 27 Governments. * A/71/50. 16-12115 (E) 090816 010916 *1612115* A/71/138 Contents Page I. Introduction ................................................................... 3 II. Information received from Governments ........................................... 4 A. Index of information submitted by Governments ................................. 4 B. Reports received from Governments on conventional arms transfers................. 5 III. Information received from Governments on military holdings and procurement through national production ............................................................. 30 IV. Information received from Governments on international transfers
    [Show full text]
  • Globalization and Tourism: Study Case Romania
    Munich Personal RePEc Archive Globalization and Tourism: Study case Romania Rotariu, Ilie 2007 Online at https://mpra.ub.uni-muenchen.de/19837/ MPRA Paper No. 19837, posted 13 Jan 2010 23:53 UTC Ilie ROTARIU GLOBALIZATION AND TOURISM Study case: Romania Editura „ALMA MATER” Sibiu 2007 1 Descrierea CIP a Bibliotecii Naţionale a României ROTARIU, ILIE Globalization and tourism: study case Romania / Ilie Rotariu, - Sibiu: Alma Mater, 2008 Bibliogr. ISBN 978-973-632-422-2 338 (100:498):338:48 © all rights reserved to the author 2008 No part of the publication may be reproduced, stored in a retrieval system or transmitted by any means without permission from the author. „Alma Mater” Printing House Sibiu Str. Aurel Vlaicu, nr.1, Sibiu – 550327 – România Tel. 0269-234332, 0722219414 Fax. 0269-234332 www.editura-amsibiu.ro e-mail: [email protected] 2 I printed this book in 2004 for the Romanians' benefit. Not quite successfully! I have had it translated into English to whom it might concern. Sibiu, August 2008 English version by Alexandru Danciu Note: the chapter 1.5 is my faculty graduation paper in 1975 (except the comments on later periods). That time it was not noticed; it has paid back now. 3 In heaven, the famous generals of the world, Alexander, Caesar, Napoleon, etc. are zealously serving the greatest general of all times: a shoemaker in Colorado. For as long as he lived, there was no war in Colorado… After a Mark Twain sketch 4 Introduction pag Part I 1. The contemporary world economic system and the projection of several specific phenomena pag.
    [Show full text]
  • The Red Army Lei
    A BRIEF HISTORY OF THE ROMANIAN LEU A BRIEF HISTORY OF THE ROMANIAN LEU The thaler was a very popular coin which came in many different shapes and enjoyed a wide circulation throughout Europe. The Leeuwendaalder (the lion-thaler or simply the lion) had an overwhelming influence on the money circulation in the Romanian provinces. Minted in the United Provinces of the Netherlands, the coin featured a rampant lion, standing on its back feet, on the reverse. The first issue of this type was minted in 1575 in the province of Holland. In the 17th century, the lion-thaler became the most frequently used high-value silver coin not only in the Romanian principalities, but also throughout the Balkan Peninsula. Greatly appreciated by the people and being circulated in vast amounts, the lion-thaler was even exhibited as merchandise in fairs across the Ottoman Empire. Before the minting of the lion-thaler was discontinued around the mid-18th century, the population in the Romanian principalities had come to identify the lion ( leu in Romanian) with money. This is the most illustrative evidence of the influence that the coin had on the Romanian monetary economy. The leu had become the unit of account both in Moldavia and Wallachia, subdivided into 40 parale . Consequently, calculations were made in lei and parale, whereas the payments were made in real currency, of different origins and denominations, at a pre-established exchange rate. a z 1774 1775 1812 1821 u C The Peace Treaty of Bukovina is annexed to The Treaty of Bucharest The rebellion Küçük Kaynarca is signed, the Habsburg Empire is signed between the led by Tudor n ending the Russian- Ottoman and the Russian Vladimirescu a Turkish War of 1768–1774 Empires.
    [Show full text]